Binance Excludes Pi Network In Vote To List Initiative, Here’s How
Highlights
- Binance has unveiled 9 tokens for its new Vote to List campaign
- Against expectations, Pi Network was excluded as a non BNB Chain project
- Expectations for future PI listing on Binance is high among proponents
Binance Exchange, the world’s largest digital currency trading platform, will not list Pi Network among the first cohort of projects featured in its “Vote to List” initiative. This inaugural campaign, which clearly boycotts the Pi Network, featured nine projects with growing community hype. Per the update, Binance users will now determine the assets that will make the full listing on the exchange.
Why Did Binance Exempt Pi Network for Listing?
The top trading platform unveiled the decentralized listing initiative earlier this month. The initiative empowers the community to decide which tokens can be listed on the platform.
For clarity, Binance stated that the Vote to List campaign is only open to projects hosted on the BNB Smart Chain network. This automatically disqualified the Pi Network, which operates on its own blockchain.
The question of Binance listing of Pi Coin dates back to early February. At the time, Binance launched a community vote to determine whether users within its ecosystem wanted the coin, or not. Despite the level of support for Pi Network, speculation around a Binance listing remains to this day.
This development has fueled a backlash for the trading platform in the community, with many noting the dominance of memecoins as projects are put up for voting.
Binance and the Favored Projects to List
As detailed by the exchange, only two will ultimately win the listing of the nine projects it put up for voting.
The trading platform listed BANANAS31 (Banana For Scale), BID (CreatorBid), Broccoli (Broccoli), Broccoli (CZ’S Dog), KOMA (Koma Inu), SIREN (SIREN), Mubarak (Mubarak), TUT (Tutorial), and WHY (why).
Each of these tokens has its respective ecosystem with associated celebrity hype. For instance, mubarak lead memecoin frenzy recently after Binance Founder CZ acquired the token. Other tokens like Broccoli also have their dedicated communities.
What Next for Pi Network?
Despite the Binance boycott thus far, the PI Coin is soaring with the broader market momentum. At the time of writing, PI was changing hands for $1.17, up 4.78% in the past 24 hours.
The coin has recovered from the impact of the Fear, Uncertainty, and Doubt (KYC) it faced before Pi Day earlier this week. Beyond the Binance influence, market data shows that the coin has a healthy trading volume on exchanges like OKX, Bitget, and Gate.io.
To some optimistic proponents, Binance will likely list Pi in the future. However, it will do this through other means, such as direct listing.
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